Some background Knowledge you may require depending on the group you are working with:

1. An understanding of how charities/community groups are set up and governed.

2. Understanding of Fund Accounting

3. Understanding of the Charities Accounting – SORP and SOFA

4. Understanding of the different ways groups generate income e.g. Funding, Service Level Agreements, Contracts, Donations , trading etc

5. Gift Aid

6. Charities VAT and Taxation

7. Useful to know Excel, Sage, Quick Books, MYOB, TAS, Sun Accounts (these are the ones most of the groups I have come across use)

8. Understanding of full cost recovery of costs and cost allocations/apportionment

9. Understanding the difference between independent examination and audit

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